The victim was told he needed to deposit his money into a Bitcoin account -- controlled by the scammer -- to protect his funds.

Husni Zeid has put a large sign on the Bitcoin machine in his Food Fare store on Lilac Street, warning customers of phone scams involving the cryptocurrency.

'What happened at Quadriga was an old-fashioned fraud wrapped in modern technology.'

Despite the scam calls, SaskPower says customers are not being disconnected from their power during the COVID-19 pandemic.

Cobourg police say the victim believed Service Canada was calling and subsequently deposited $78,000 into area bitcoin machines as per a request.

Project EPateriform targeted a "prolific" dark web vendor known online as "AlwaysOvrWeight," whose location was later narrowed to Nanaimo, B.C.

The banks in a statement that they will assess the potential case for digital currencies in their home jurisdictions.

"Don't provide any money to anyone you don't know," Const. Sandasha Bough tells 980 CFPL.

Based on a "very limited review of Einstein Groups’s books and records,” the receiver says the company only has about $15,000 in cryptocurrency assets and $30,000 in cash.

Police say the most common victims are college-age and elderly people, as well as new Canadians.